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Sundram Fasteners acquires 53% stake in Sundram Non-conventional energy
9/5/2008 |
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Sundram Fasteners, has announced that it has take over 52.94% equity share capital of Sundram Non- conventional Energy Systems Ltd (SNES).
The proposed company (Sundram Fasteners) is a part of TVS group.
SNES, which produces power through windmills, was a subsidiary of Sundram Fasteners Investments Ltd and Upasana Engineering Ltd (UEL).
Consequent to the acquisition of the equity shares, SNES has become a direct subsidiary of the Company with effect from August 27, 2008.
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